HSBC Captures Over $6 Billion, Dominates New FCNR(B) Deposits

Foreign banks have benefitted the most from the RBI’s programme, with HSBC leading the pack. By the end of July, the bank’s share of fresh FCNR‑B deposits rose to roughly 22 %, corresponding to $6.1 billion (about ₹58,000 crore). Data from later in August show HSBC’s new deposits edging close to $6.14 billion. Standard Chartered also secured a notable portion, accounting for about 7 % of the fresh inflows. The sharp rise in foreign‑bank participation reflects their competitive interest offers and extensive global networks.